Cox Oil, Freeport-McMoRan complete Gulf of Mexico transaction

Offshore staff

DALLAS – Cox Oil Offshore L.L.C. has purchased certain interests in the Gulf of Mexico outer continental shelf from Freeport-McMoRan Oil & Gas, a subsidiary of Freeport-McMoRan Inc.

This transaction includes Freeport-McMoRan’s interests in the Flatrock and Hurricane areas of the OCS-310 Tiger Shoal lease.

Brad E. Cox, chairman and founder, said: “Cox Oil believes in the enormous potential in the Gulf of Mexico and today marks another step forward for the future success of our company. We are one of the few GoM operators who are expanding during the continued downturn in our industry by identifying and acquiring quality assets with accretive upside.”

08/02/2017